NEW YORK (Standard&Poor's CreditWire) Feb. 23, 1999--Standard&Poor's today affirmed its ratings for Dominion Resources Inc. and its affiliates (see list below). The outlook remains stable. This affirmation follows the announcement of Dominion's agreement to acquire Consolidated Natural Gas Co. (CNG) in a stock-for-stock transaction. In addition, the ratings for CNG were placed on CreditWatch with negative implications (see list). Standard&Poor's views the merger with CNG to be consistent with Dominion's previously articulated business strategy, which includes the provision of energy services to the Northeastern quadrant of the U.S. CNG operates gas distribution businesses in Ohio, Pennsylvania, West Virginia, and Virginia, an interstate pipeline network, the country's largest natural gas storage system, and a gas
